Balkantourist ( bg, Балкантурист) is the oldest existing

Bulgaria Bulgaria (; bg, България, Bǎlgariya), officially the Republic of Bulgaria,, ) is a country in Southeast Europe. It is situated on the eastern flank of the Balkans, and is bordered by Romania to the north, Serbia and North Macedon ...

tour operator A tour operator is a business that typically combines and organizes accommodations, meals, sightseeing and transportation components, in order to create a package tour. They advertise and produce brochures to promote their products, holidays and ...

, established on 6 January 1948 as a state-owned

government monopoly In economics, a government monopoly or public monopoly is a form of coercive monopoly in which a government agency or government corporation is the sole provider of a particular good or service and competition is prohibited by law. It is a monopoly ...

in what was then the

People's Republic of Bulgaria The People's Republic of Bulgaria (PRB; bg, Народна Република България (НРБ), ''Narodna Republika Balgariya, NRB'') was the official name of Bulgaria, when it was a socialist republic from 1946 to 1990, ruled by the ...

Privatised Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...

in 1995, it has continued to exist in the post-1989 conditions of

market economy A market economy is an economic system in which the decisions regarding investment, production and distribution to the consumers are guided by the price signals created by the forces of supply and demand, where all suppliers and consumers ...

. Balkantourist was founded as a self-supporting enterprise, part of the Ministry of Railways, during the government of

Georgi Dimitrov Georgi Dimitrov Mihaylov (; bg, Гео̀рги Димитро̀в Миха̀йлов), also known as Georgiy Mihaylovich Dimitrov (russian: Гео́ргий Миха́йлович Дими́тров; 18 June 1882 – 2 July 1949), was a Bulgarian ...

. With a starting capital of 300 million

leva Leva may refer to: * Bulgarian lev, Bulgarian currency * ''Leva'' (grasshopper), a genus of insects * Levice Levice (; hu, Léva, Hungarian pronunciation: ; german: Lewenz, literally lionesses) is a town in western Slovakia. The town lies o ...

, its initial service was to compensate

Czechoslovakia , rue, Чеськословеньско, , yi, טשעכאסלאוואקיי, , common_name = Czechoslovakia , life_span = 1918–19391945–1992 , p1 = Austria-Hungary , image_p1 ...

's enterprises in Bulgaria that were

nationalized Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to pri ...

after the

Bulgarian coup d'état of 1944 Bulgarian may refer to: * Something of, from, or related to the country of Bulgaria * Bulgarians, a South Slavic ethnic group * Bulgarian language, a Slavic language * Bulgarian alphabet * A citizen of Bulgaria, see Demographics of Bulgaria * Bul ...

by offering holidays on the

Bulgarian Black Sea Coast The Bulgarian Black Sea Coast (), also known as the Bulgarian Riviera, covers the entire eastern bound of Bulgaria stretching from the Romanian Black Sea resorts in the north to European Turkey in the south, along 378 km of coast ...

to Czechoslovakian citizens. As the

war reparations War reparations are compensation payments made after a war by one side to the other. They are intended to cover damage or injury inflicted during a war. History Making one party pay a war indemnity is a common practice with a long history. R ...

imposed on Bulgaria after

World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...

made the country unable to compensate Czechoslovakia financially, Czechoslovakian leader

Klement Gottwald Klement Gottwald (; 23 November 1896 – 14 March 1953) was a Czech communist politician, who was the leader of the Communist Party of Czechoslovakia from 1929 until his death in 1953–titled as general secretary until 1945 and as chairman from ...

suggested the idea. In the following decades, Balkantourist gradually expanded its business to include mountain and cultural tourism in Bulgaria, as well as service tourists from other countries of the

Eastern Bloc The Eastern Bloc, also known as the Communist Bloc and the Soviet Bloc, was the group of socialist states of Central and Eastern Europe, East Asia, Southeast Asia, Africa, and Latin America under the influence of the Soviet Union that existed du ...

besides Czechoslovakia: the

Soviet Union The Soviet Union,. officially the Union of Soviet Socialist Republics. (USSR),. was a transcontinental country that spanned much of Eurasia from 1922 to 1991. A flagship communist state, it was nominally a federal union of fifteen national ...

East Germany East Germany, officially the German Democratic Republic (GDR; german: Deutsche Demokratische Republik, , DDR, ), was a country that existed from its creation on 7 October 1949 until its dissolution on 3 October 1990. In these years the state ...

Poland Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populous ...

Hungary Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Croatia a ...

Romania Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, S ...

. Balkantourist played a major role in the establishment of planned

seaside resort A seaside resort is a resort town, town, village, or hotel that serves as a Resort, vacation resort and is located on a coast. Sometimes the concept includes an aspect of official accreditation based on the satisfaction of certain requirements, suc ...

s such as

Golden Sands Golden Sands ( Bulgarian: Златни пясъци, ''Zlatni pyasatsi'' ) is a major seaside resort town on the northern Bulgarian Black Sea Coast, adjacent to a national park of the same name in the municipality of Varna. Located 17 km n ...

and

Sunny Beach Slanchev Bryag ( bg, Слънчев бряг , en, Sunny Beach) is a seaside resort on the Black Sea coast of Bulgaria, north of Burgas. Created in 1958 as a weekend getaway for Bulgarian families, Sunny Beach has become the largest tourist an ...

, and Bulgaria's policy of international tourism as a profitable branch inspired other socialist countries such as

Yugoslavia Yugoslavia (; sh-Latn-Cyrl, separator=" / ", Jugoslavija, Југославија ; sl, Jugoslavija ; mk, Југославија ;; rup, Iugoslavia; hu, Jugoszlávia; rue, label=Pannonian Rusyn, Югославия, translit=Juhoslavija ...

and Romania to develop their own seaside resorts. After the democratic changes in 1989, Balkantourist was privatised in 1995 by the Bulgarian Tourist Holding. As of 2008, it offers holidays in Bulgaria and in more than 35 destinations abroad. The company owns Grand Hotel

Varna Varna may refer to: Places Europe *Varna, Bulgaria, a city in Bulgaria **Varna Province **Varna Municipality ** Gulf of Varna **Lake Varna **Varna Necropolis *Vahrn, or Varna, a municipality in Italy *Varniai, a city in Lithuania * Varna (Šaba ...

, the Lebed, Rubin, Delfin, Delfin Marina, Paradise Beach and International hotels on the

Black Sea The Black Sea is a marginal mediterranean sea of the Atlantic Ocean lying between Europe and Asia, east of the Balkans, south of the East European Plain, west of the Caucasus, and north of Anatolia. It is bounded by Bulgaria, Georgia, Roma ...

coast, Hotel Rila in

Borovets Borovets ( bg, Боровец ), known as Chamkoria ( ) until the middle of the 20th century, is a popular Bulgarian mountain resort situated in Sofia Province, on the northern slopes of Rila, at an altitude of 1350 m. Borovets is located appr ...

, Arbanasi Palace and Grand Hotel Bulgaria in

Sofia Sofia ( ; bg, София, Sofiya, ) is the capital and largest city of Bulgaria. It is situated in the Sofia Valley at the foot of the Vitosha mountain in the western parts of the country. The city is built west of the Iskar river, and ha ...

References

* *

External links

Official website
{{Authority control Travel and holiday companies of Bulgaria Companies based in Sofia Transport companies established in 1948 Bulgarian brands 1948 establishments in Bulgaria